Aadhar Housing Finance Ltd, which is backed by private equity major Blackstone, has filed preliminary papers with capital markets regulator Sebi to raise Rs 5,000 crore through an Initial Public Offering (IPO).
The IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 4,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
Current Ownership Structure
Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance.
Utilization of IPO Proceeds
The company proposes to utilise the proceeds from the fresh issue to the tune of Rs 750 crore for meeting future capital requirements towards onward lending and a portion will also be used for general corporate purposes.
Loan Product Portfolio
Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition.
It has a network of 471 branches, including 91 sales offices, as of September 30, 2023.
Earlier, Aadhar Housing filed draft papers with Sebi in January 2021 to raise Rs 7,300 crore through an initial share sale. It had received the regulator's nod to float the public issue in May 2022, however, it did not go ahead with the launch.
Book-Running Lead Managers
Mahindra Capital Company, Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the book-running lead managers to the public issue.
